Canadian Gold Resources (TSXV: CAN) Announces Non-Brokered Private Placement of Flow-Through Units and Non Flow-Through Units
Canadian Gold Resources (TSXV: CAN) Announces Non-Brokered Private
Placement of Flow-Through Units and Non Flow-Through Units
DIEPPE, New Brunswick, Dec. 18, 2024 -- Canadian Gold Resources Ltd. ("Canadian Gold" or the "Company") (TSXV: CAN)
is pleased to announce a non-brokered private placement (the “Offering”) of:
i. up to 7,500,000 flow-through units (each, an “FT Unit”), at $0.30 per FT Unit, for aggregate gross proceeds of up to
$2,250,000; and
ii. up to 1,000,000 non flow-through units (each, an “NFT Unit”), at $0.25 per NFT Unit, for aggregate gross proceeds of up
to $250,000.
Each FT Unit shall be comprised of one (1) flow-through share in the capital of the Company (each, an “FT Share”) and one-
half (1/2) common share purchase warrant (an “FT Warrant”). Each whole FT Warrant shall entitle the holder thereof to acquire
one (1) common share in the capital of the Company at a price of $0.40 per share for a period of 24 months from the date of
issuance.
Each NFT Unit shall be comprised of one common share in the capital of the Company (each, an “NFT Share”) and one (1)
common share purchase warrant (an “NFT Warrant”). Each NFT Warrant shall entitle the holder thereof to acquire one (1)
common share in the capital of the Company at a price of $0.35 per share for a period of 24 months from the date of issuance.
The FT Shares will qualify as “flow-through shares” within the meaning of subsection 66(15) of the Income Tax Act (Canada).
Proceeds from this Offering will be used by the Company primarily for bulk sampling and exploration at the Company’s Lac
Arsenault property and other high-grade gold projects in the Gaspé Gold Belt of Quebec and general working capital. Proceeds
from the sale of FT Units will only be used by the Company for eligible exploration expenditures.
In connection with the Offering, the Company may pay cash finder’s fees and finder’s options to eligible arm’s length parties.
All securities issued pursuant to the Offering will be subject to a hold period of four months plus a day from the date of
issuance. Closing of the Offering is subject to certain conditions including, but not limited to, the receipt of all necessary
regulatory and other approvals, including the approval of the TSX Venture Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United
States. The securities have not been and will not be registered under the United States Securities Act of 1933 , as amended
(the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S.
Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
For more information, visit www.cdngold.com.
About Canadian Gold Resources Ltd.
Canadian Gold Resources Ltd. (TSXV: CAN) is a Canadian exploration company focused on developing high-grade gold
projects in the Gaspé Gold Belt of Quebec. The Company targets under-explored, past-producing properties with significant
growth potential, leveraging modern exploration techniques to unlock value. With a team of experienced professionals and a
commitment to sustainability and community engagement, Canadian Gold Resources is well-positioned to capitalize on
opportunities within this historic and promising gold region. For more information, visit www.cdngold.com.
For further information, please contact:
Ronald Goguen
Chairman, President & CEO
Canadian Gold Resources Ltd.
506-383-4274
Investor Relations
Caroline Sawamoto
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) has reviewed or accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking information” (“forward-looking information”) within the
meaning of the applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-
looking information and are based on expectations, estimates and projections as at the date of this news release. Any
statement that discusses predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or
performance (often but not always using phrases such as “expects”, or “does not expect”, “is expected”, “anticipates” or “does
not anticipate”, “plans”, “budget”, “scheduled”, “forecasts”, “estimates”, “believes” or “intends” or variations of such words and
phrases or stating that certain actions, events or results “may” or “could”, “would”, “might” or “will” be taken to occur or be
achieved) are not statements of historical fact and may be forward-looking information. Forward-looking statements in this
news release include statements regarding the Offering and use of proceeds from the Offering. In disclosing the forward-looking
information contained in this press release, the Company has made certain assumptions. Although the Company believes that
the expectations reflected in such forward-looking information are reasonable, it can give no assurance that the expectations of
any forward-looking information will prove to be correct. Known and unknown risks, uncertainties, and other factors which may
cause the actual results and future events to differ materially from those expressed or implied by such forward-looking
information. Such factors include, but are not limited to: compliance with extensive government regulations; domestic and
foreign laws and regulations adversely affecting the Company’s business and results of operations; and general business,
economic, competitive, political and social uncertainties. Accordingly, readers should not place undue reliance on the forward-
looking information contained in this press release. Except as required by law, the Company disclaims any intention and
assumes no obligation to update or revise any forward-looking information to reflect actual results, whether as a result of new
information, future events, changes in assumptions, changes in factors affecting such forward-looking information or otherwise.